Foreign Loans (Amendment) Act (No. 23 of 1980)

Sri Lanka Consolidated Acts

"Replacement of sections 2, 3 and 4 of the principal enactment

3. Sections 2, 3 and 4 of the principal enactment are hereby repealed and the following sections substituted therefor :

2. The President or any person specially authorized by him in that behalf may', in the name and on behalf of the Government of Sri Lanka, sign-

	(a) un agreement relating to a foreign loan to the Government of Sri Lanka ;

	(b) a guarantee by the Government of Sri Lanka relating to a foreign loan to a public corporation or public enterprise ; and

	(c) any contract, bond, promissory note or other document required by such agreement or guarantee to be executed by the Government of Sri Lanka.

3. All sums payable by the Government of Sri Lanka

	(a) under an agreement relating to a foreign loan to the Government of Sri Lanka;

	(b) in terms of a guarantee relating to a foreign loan to a public corporation or public enterprise ; and

	(c) under any contract, bond or promissory note executed pursuant to such agreement or guarantee, are hereby charged on the Consolidated Fund of Sri Lanka .

	(1) The Minister in charge of the subject of Finance may, by Order published in the Gazette, make such provision as may be necessary to give effect to an agreement relating to a foreign loan to the Government of Sri Lanka or to a guarantee given by the Government of Sri Lanka relating to a foreign loan to a public corporation or public enterprise.

	(2) Every Order made and published under subsection (1) shall have the force of law.

	(3) Every Order made and published under subsection (1) shall be presented in Parliament within one month of the making of such Order.".